Options/TSLL

TSLLDirexion Shares ETF Trust Direxion Daily TSLA Bull 2X ETF

Options Analysis Report

AUM $3.6B|NASDAQ

● 2026-08-31$8.98

BULLISH

Analysis: 2026-08-28 EOD data

1Y -24.9%YTD -50.4%7D -0.7%

Options Vol

102,217

30D

Implied Move

±21.1%

IV Rank

TSLL Options Overview

IV is elevated with bullish flow and unusual activity. Conditions favor premium sellers.

REWARDS

RISK ANALYSIS

Snowflake Analysis

Favorable conditions for premium sellers

Learn

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TSLL Gamma Walls

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Value

Is IV priced right?

5.1

ExpensiveCheap

Measures whether options are cheap, fair, or rich relative to historical and peer

levels.

Risk Checks4/9 checks passed

IV Rank

≤35%

IV Rank 91.1% — elevated vs history

IV/HV Ratio

<1.05x

IV/HV 1.01x — IV ≤ HV

Sector Relative≤50%

Sector percentile 94% — above sector median

Term Structure

<1.1x

Front/Back 0.84x — contango

Skew Normal

<1.25x

Put/Call IV 1.16x — elevated

Absolute IV

<80%

ATM IV 75.2% — normal range

Spread-Adjusted Value

<80%

Effective IV 94.1% (ATM 75.2% + spread 9.4% + bias) — expensive

Execution Efficiency

<3.0%

Total drag 17.01% (spread 9.45% + slippage 7.56%) — high friction

Vega Efficiency

≥5.0

Vega efficiency 0.19 (vega 0.183 / spread 9.45%) — spread drag

Sentiment

Bullish or bearish?

6.7

BearishBullish

Analyzes

put/call ratios

open interest skew

, and flow direction to determine market bias.

Risk ChecksNeutral - Moderate signal (Conviction: +5%, Raw: +5%)

Flow Direction

|net sentiment| ≥25%

Conviction-weighted: +5% (neutral) — Raw: +5%

OI Skew Magnitude

≥15%

|OI skew| 50.1% — call-heavy

Volume-OI Alignment

Same sign, |vol skew| ≥10%

Vol skew +38.2%, OI skew +50.1% — aligned

Conviction Quality

≥2/3 conditions

0-DTE 0%, far-OTM 15%, avg DTE 30

OI Momentum

|change| ≥3%

OI change +0.0% (5d) — stable

Smart Money Flow

|weighted flow| ≥20%

ITM: -0%, ATM: +6%, OTM: +5% — neutral (ITM/ATM divergent)

Sector Relative≤40% or ≥60%

Sector P/C percentile 18% — very bullish vs sector

Activity

Unusual activity?

5.9

QuietActive

Detects volume surges,

block trades

, and unusual options activity that may signal moves.

Risk Checks3/8 checks passed

Volume Surge

≥1.5x

Volume 1.1x avg — normal

Turnover Rate

≥15%

Vol/OI 12.5% — normal turnover

Multi-Day Persistence

≥2 days

1 day(s) elevated — may be one-day event

OI Build

≥5%

OI change +10.3% (5d) — building

Sector Relative≥60%

Sector activity percentile 87% — very active vs sector

Trade Quality

≥30%

Large trade volume 29% — mixed

Execution Urgency

≥60%

Aggressive execution 65% — urgent

Flow Conviction

≥30

Conviction +5 (bullish) — mixed

Liquidity

Can I trade efficiently?

5.0

IlliquidLiquid

Evaluates

bid-ask spreads

, volume depth, and open interest for trade execution quality.

Risk Checks4/8 checks passed

Tradeable Spread

≤5.0%

Spread 9.4% — wide

Adequate OI

≥10,000

OI 817,703 — deep

Active Volume

≥500

Volume 102,217/day — active

Reasonable Cost

≤$0.50

$0.47 to cross — cheap

Strike Coverage

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 96% — much wider than sector

Order Book Depth

≥100 contracts

Depth 2,484.3999999999996 contracts (bid:1,182.1 ask:1,302.3) — deep

Execution Quality

<1.0%

Avg slippage 7.56% — poor

Timing

Is now a good time?

7.5

RiskyFavorable

Considers earnings proximity,

time decay

, and event calendar for optimal entry timing.

Risk Checks7/9 checks passed

Term Structure Clarity

|slope| ≥5%

Slope -16.5% — contango

IV Percentile Clarity

<30 or >70

IV percentile 91% — seller opportunity

Event Detection

≥10pts kink

IV kink -10.8pts — no clear event

Theta/Vega Clarity

<0.5 or >2.0

θ/ν ratio 10.89 — favors income trades

Expiration Distribution

≥3 expirations

5 liquid expirations — flexible

Event Risk

≥60% (safe)

safe window: No earnings detected

Spread Momentum

<1.2 ratio

Spread ratio 1.00x — stable

Flow Momentum

≥25% strength + ≥50% consistency

Flow +5% @ 53% consistency — unclear

Smart Money Timing

≥40 composite score

Score 59 (ITM 20% + inst 29%) — moderate institutional

Directional Strategy Fit

Option Buyers

Long Calls6.6

bullishIV fair, bullish flow

Long Puts4.8

bearishIV fair, bullish flow

Premium Sellers

Cash-Secured Put5.9

bullishIV fair, bullish flow

Covered Call4.8

bearishIV fair, bullish flow

For educational purposes only. Not investment advice.

The Options Desk tracks the move options price into every US earnings report the week of Aug 31, next to how much each stock has actually moved on its past prints — plus the SPY, QQQ and IWM expected ranges and the gamma walls that box them in.

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